Forum of Regional Arts Councils of Minnesota Inc

Analysis

Forum of Regional Arts Councils of Minnesota Inc is a registered charity in United States, based in Warren, MN. It received its IRS tax-exemption ruling in November 1994, 32 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Forum of Regional Arts Councils of Minnesota Inc reported income of $65k and spending of $48k, leaving 26% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income fell from $315k to $65k (-79%), an average of -55% a year. The sharpest change came in the year to June 2022, when income dropped by 79%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Forum of Regional Arts Councils of Minnesota Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 22nd percentile within MN. Charities of a similar size with the same main cause include Shine on Humanity ($65k), Mettawee Theatre Co Inc ($65k) and Salem Philharmonia Orchestra ($65k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $75k against liabilities of $45k, net assets of $30k.